Artificial Intelligence: AI Startups AliveCor And Ride Vision Raise Money
AliveCor uses AI to analyze ECGs taken on your phone. Ride Vision builds an AI-powered safety system around motorcycle riders.
AliveCor’s AI-based products provide personal cardiological services. Its FDA-approved KardiaMobile device instantly detects heart conditions such as atrial fibrillation, bradycardia, tachycardia, and normal heart rhythm in an ECG. The company’s AI-enabled Kardia platform helps in the early detection of atrial fibrillation. This is a condition which is very highly likely to cause a stroke.
AliveCor raises $65 million
The start-up announced Monday its $ 65 million Series E financing. It was led by existing investors OMRON, Khosla Ventures, WP Global Partners, Qualcomm Ventures, and Bold Capital Partners.
The company intends to use the money to step up the growth trajectory of its remote cardiology platform. It also wants to augment its portfolio with telehealth services. It has inked a partnership with OMRON (TYO: 6645) to provide hypertension management.
The virus pandemic triggered a surge in personal ECGs. According to Venture Beat, Kardia devices have recorded nearly 15 million ECGs, a growth of 70% year on year, since the onset of the virus.
“We remain positioned to fulfill our vision of delivering AI-based, remote cardiological services for the vast majority of cases when cardiac patients are not in front of their doctor,” said Priya Abani, CEO of AliveCor, in a statement.
Ride Vision raises $7 million
Ride Vision is an Israel-based start-up that just launched its AI-driven, safety-alert technology to prevent motorcycle collisions on the road.
The start-up has innovated a combination of image-recognition and AI technologies in its product. Its patented human-machine warning interface (HMI) and predictive vision algorithms can stave off accidents by issuing warnings in real-time to the motorcycle rider.
The system comprises two wide-angle cameras mounted on the front and rear of the vehicle, alert indicators positioned on the motorbikes mirrors, and an on-board main computing unit that runs Ride Vision’s patented algorithms.
The motorcycle rider gets warnings of forward collision, distance-keeping (proximity), blindspot, and dangerous overtakes.
The motorcycle rides data is stowed on the rider’s mobile device privately and securely. It is useful for fuel consumption calculations or for justifying an insurance rate reduction.
Covid 19 spurs motorbike usage
“As the pandemic has reduced public transit use, people are considering motorcycles and other motorized two-wheeled vehicles as viable alternatives, with two-wheeled vehicle sales rising by 30 percent on average across the EU during COVID-19,” Ride Vision said in a statement.
Though more riders mean more potential accidents, Ride Vision can help reduce these risks.
Ride Vision announced Monday its raise of $7 million in Series A funding led by OurCrowd, Israel’s most active venture investor, with the participation of YL Ventures, Mobilion VC, and Metagal.
The round brings the company’s aggregate funding up to $10 million.
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